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Problems at secure trading

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Member728 View Drop Down
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    Posted: 28 May 2019 at 23:35
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Post Options Post Options   Thanks (0) Thanks(0)   Quote marigold Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 06:17
Is this not the main sponsor and jobs provider at Old Elthamians?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bigmal Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 07:49
If that is the case that leaves the RFU short bi £1m and OE's in difficulty?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Runitback Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 08:35
It looks like they have already sold off the business and left a shell to go into admin . . . so continue to trade under Tru//ST brand !!!! 


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chunky256 Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 10:38
Sounds like this could cause issues for OEs moving forwards! Once again showing the perils of money being pumped into a rugby club at this level. When will the lesson be learnt!

Could this affect Mr Lach's grand plans??
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Runitback Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 10:51
Tell me a rugby club that would'nt take the money . . . sometimes it works and sometimes not, Saracens have burnt through circa £50m of Mr Wrays wealth!

Personally I dont like that model but a wealthy benefactor is hard to ignore . . the leagues would be a far better place if all clubs were funded by their own means . . . but it always becomes a very blurred line between sponsor and benefactor.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chunky256 Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 11:01

There are certainly clubs who wouldn’t take that money. Spread risk across multiple benefactors/sponsors is an understandable approach however lumping all your eggs in one basket is a very short termist approach which has shown time and time again that it doesn’t necessarily always prosper.

 

Sometimes need to be savvy enough to stop the eyes lighting up at the prospect of £££ and look ahead to sustaining the future of what is in its essence a community rugby club

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Insignificant Tick Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 11:07
Taking the money and building for the future shouldn't be mutually exclusive.


Edited by Insignificant Tick - 29 May 2019 at 11:08
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chunky256 Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 11:09

Agreed and not saying that at all.

Reliance on big money at an amateur/semi-professional level is unsustainable. That’s my point.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Big Eddie Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 11:32
My understanding is that OE's squad are pretty much near Championship quality which is likely to have a significant cost attached. If their primary sponsor has gone into Administration this is likely to leave a very sizeable hole.

The writing has been on the wall for Secure Trading for a while and I hope that during this period OE's have used the time to secure alternative funding sources.

I like the guys at OE's and I hope that they have been able to work their way around this potentially difficult situation.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 13:52
I see that David Blunkett MP was a director for almost 10 years up until 12 November 2018 when he resigned with another- not particularly relevant but interesting how MPs get sucked into directorships.

Jacobus Adriaan PAULSEN is also listed (and resigned in November 2018). He is a director of The Old Elthamians Rugby Club
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kentish Odd balls Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 20:01
Hi all,

I normally lurk in the Level 5 forum however I’ve heard about OEs all week on the Kentish Grape Vine. I dismissed it as the usual hearsay but this appears to firm it up somewhat!

OEs now appear to be a club with a fair bit of debt, no owned ground (as I believe, please correct me if wrong) and and no main sponsor. Players aren’t stupid and some have already started contacting other clubs.

Shame as they are a decent bunch but have had a rapid rise in the last 10 years and perhaps a more measured approach would have been better, but that is the beauty of hindsight.

They are quite an attractive club however. A good set up, decent players etc. Could a new main sponsor be found?

Edited by Kentish Odd balls - 29 May 2019 at 20:05
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 20:27
It might be an interesting AGM.
They list four sponsors on the web site, I have no idea how much each pays - I do not even know that for Cambridge.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 2019 at 23:39
Originally posted by Camquin Camquin wrote:

They list four sponsors on the web site

Only one shown on their Pitchero site - Secure Trading
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 00:06
At the bottom of many of the pages and on the sponsors page they also list
Cognosec
CIS Security 
Ascot Stone Group

Who were on the sleeves and back of the shirt with Secure Trading on the front.

However ASG web site is down and Cognosec look like they could be part of the Secure Trading group as the share the pink stripe logo.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 01:59
Cognosec is one of Jacobus (Kobus) Adriaan Paulsen's companies as well as secure trading.

In March 2018 Jacobus Paulsen formed Elthamian Development Organisation, currently dormant.

Born in October 1965, Paulsen is South African.

Edited by FHLH - 30 May 2019 at 02:06
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 02:05
What are the 'Panama Papers'?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Saturnate Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 07:58
Originally posted by FHLH FHLH wrote:

What are the 'Panama Papers'?

The Panama Papers are 11.5 million leakeddocuments that detail financial and attorney–client information for more than 214,488 offshore entities. ... The documents contain personal financial information about wealthy individuals and public officials that had previously been kept private.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Robb Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 09:00
Originally posted by Kentish Odd balls Kentish Odd balls wrote:

Hi all,

I normally lurk in the Level 5 forum however I’ve heard about OEs all week on the Kentish Grape Vine. I dismissed it as the usual hearsay but this appears to firm it up somewhat!

OEs now appear to be a club with a fair bit of debt, no owned ground (as I believe, please correct me if wrong) and and no main sponsor. Players aren’t stupid and some have already started contacting other clubs.

Shame as they are a decent bunch but have had a rapid rise in the last 10 years and perhaps a more measured approach would have been better, but that is the beauty of hindsight.

They are quite an attractive club however. A good set up, decent players etc. Could a new main sponsor be found?

10 years ago they lost a relegation play-off against Tunbridge Wells and got relegated to London 2, it is certainly impressive their rise but that swift a rise always comes with a cost. And here we may see it now.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Insignificant Tick Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 09:09
From OEs website for one of their sponsors. How prophetic.

 Cognosec
Change is constant. Whether it is a change with a positive or negative impact, corporate assets and shareholders’ interests have to be safeguarded. Cognosec provides management consulting and professional services to enable you to safeguard your assets, respond to compliance requirements, manage change, communicate and reduce inherent risks. Cognosec has its headquarters in Vienna, Austria and is a member of the UC Group of companies. 

As Runitback says, with this level of expertise available then there is probably only a shell company left and creditors will get screwed as usual. 
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